Property Overview
276 Marjorie Street is a compact, one-storey home built in 1918, situated on a standard-sized lot in Winnipeg's King Edward neighbourhood. Its key appeal lies in its position as an accessible entry point into the housing market. With a living area of 775 sqft, it is notably smaller than both local and city-wide averages, and its assessed value is significantly below the city's typical home. The basement exists but is not renovated, and the property does not include a garage or pool.
This home would suit a specific type of buyer: first-time purchasers or investors looking for a low-cost acquisition with minimal initial financial outlay. Its below-average price and taxes make it a practical option for those prioritizing budget and location over space and modern finishes. The property presents a straightforward value proposition—it’s a basic, no-frills home in an established area, ideal for someone comfortable with a smaller footprint or viewing it as a long-term hold or renovation project over time.
Frequently Asked Questions
1. Why is the assessed value so much lower than the city-wide average?
The assessed value reflects the home's smaller size, age, and lack of recent renovations compared to the broader Winnipeg market, which includes many larger, newer, or updated properties. It is more in line with averages within its immediate neighbourhood.
2. What does "below average" for living area mean for daily life?
With 775 sqft, the home offers compact living. It will likely have fewer or smaller rooms than many modern homes, requiring efficient use of space. This can mean lower utility costs and less maintenance, but may not suit those needing multiple bedrooms or dedicated workspace.
3. The home sold recently in 2024 and 2017. What does that indicate?
The relatively recent sales suggest it is a property that trades on its fundamental affordability and location rather than as a long-term family holding. This can indicate a market of entry-level buyers and investors.
4. Is the unrenovated basement a major concern?
It depends on your plans. It means the space is likely in original condition, which could present moisture issues or require significant work to finish. However, it also provides bare-bones storage or utility space and represents a clear opportunity for a future buyer to add value according to their own needs and budget.
5. How should I interpret the "rankings" compared to the street, area, and city?
The rankings show the home is more typical within its own King Edward neighbourhood than it is city-wide. While its size and value are below average for all of Winnipeg, they are closer to the norm on its own street. This highlights the importance of evaluating a property within its immediate local context, not just the broader market.